Thai PM Srettha to Hold Finance Minister Post in Rare Move

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Thailand’s new Prime Minister Srettha Thavisin unveiled a cabinet line-up that sees him also assume the post of finance chief, a rare move as focus turns to his government’s plans to revive the economy.

Phumtham Wechayachai was appointed commerce minister, Pirapan Salirathavibhaga was named energy minister and Pimpatra Wichaikul will head the industry portfolio, according to a gazette notification on Saturday. Phumtham and Pirapan will also hold the positions of deputy prime ministers.

“He is qualified as finance chief with his extensive experience in business,” said Titipol Phakdeewanich, dean of political science at Ubon Ratchathani University. “Still, the move may lead to questions about checks and balances.” The energy and industry ministers are from the military-linked United Thai Nation Party, while Pheu Thai kept the commerce and foreign affairs portfolios. Anutin Charnvirakul, who leads Bhumjaithai — the second-largest party in the coalition — will head the high-profile interior ministry. He, along with Parnpree Bahiddha-Nukara as foreign minister, will also be deputy premiers.

Srettha’s immediate tasks include the finalization of the state budget for the fiscal year starting Oct. 1. The government has already announced plans to cut energy prices and city-train fares and temporarily suspend debt repayment by farmers as part of a raft of measures to ease the cost of living and boost investment in the $500 billion economy.

 

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